BY CHIKA OKEKE, Abuja
The Revenue Mobilisation, Allocation and Fiscal Commission ,RMAFC, has formed a strategic alliance with the Nigerian Extractive Industries Transparency Initiative ,NEITI, to bolster financial flows in extractive sector.
RMAFC Chairman, Dr Mohammed Shehu, who stated this on Friday in Abuja, at a courtsey visit to the Executive Secretary of NEITI, Mr Musa Adar, disclosed that the partnership would improve revenue monitoring, transparency and accountability in Nigeria’s extractive industries.
He praised NEITI for providing credible information on operations and financial flows in the extractive industries, which strengthened accountability, describing the longstanding partnership between the agencies as strategic and mutually beneficial to both institutions and the country.
NEITI’s work had also improved public understanding of Nigeria’s extractive sector and promoted openness in managing the country’s natural resources, just as the Agency had earned a strong reputation through efforts to uncover facts, reconcile information and promote transparency in the extractive industries.
He was optimistic that NEITI’s international partners would continue to support its capacity in information gathering, data verification, revenue transparency and accountability, assuring of the commission’s continued support and openness to collaboration in data sharing, research, revenue monitoring and policy engagement.
While congratulating Adar on his appointment as NEITI executive secretary, he stated that Adar's experience, competence and diligence will contribute to greater achievements in promoting transparency and accountability in Nigeria’s extractive sector.
Adar described the relationship between NEITI and RMAFC as a longstanding partnership built on transparency, accountability and improved revenue mobilisation, harping on the need to strengthen the collaboration to achieve greater impact in revenue monitoring, resource governance and accountability.
He highlighted RMAFC’s role in monitoring revenues accruing to the Federation Account and advising on measures to improve revenue collection and accountability, noting that reliable information on revenues from oil, gas and mining activities is essential for fiscal management, public accountability and informed decision-making.
"NEITI’s independent reconciliation of financial and physical flows provides useful data on revenues, payments, production, exports and company activities.
"NEITI’s reports can support RMAFC’s work in revenue monitoring, verification, policy analysis and developing measures to improve revenue mobilisation," Adar added.
He highlighted Nigeria’s presence at the ongoing 2026 Extractive Industries Transparency Initiative ,EITI, implementation, under the 2023 EITI Standard, linking it as an opportunity to demonstrate measurable progress in strengthening governance across the industries.
The ES stated that the standard’s emphasis on data reliability, systematic disclosure and revenue transparency aligned with RMAFC’s mandate and created opportunities for deeper cooperation.
To this end, Adar invited RMAFC to participate in the Global EITI Conference scheduled for October in Brussels, Belgium, just as he sought stronger collaboration among NEITI, RMAFC and other institutions in data sharing, revenue mobilisation, research, capacity building and policy dialogue.
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